Corporate spinoffs are not often compared to po stars. But Latin hearthrob Ricky Martin does have something in common with Quest Diagnostics, Lehman Brothers and Coach, While Martin did okay as a member of teen band Menudo, it was only after he embarked on a solo career that he hit it big. The same is true of the aforementioned businesses and many others shed by large companies. "Oftentimes, the spinoffs are the best part of the company," says David Williams, portfolio manager of the Excelsior Value & Restructuring fund. Once free of their parents, they often blossom into leaner, more focused and revitalized businesses.